Ajinomoto stock hits record thanks to semiconductor material unit

Japanese foodmaker draws investors with diversified business portfolio

Best known for its namesake monosodium glutamate seasoning, Ajinomoto is branching into other fields like semiconductor materials. © Reuters

YUSUKE YAGI, Nikkei staff writer

November 30, 2022 07:05 JST

TOKYO -- Japanese food and flavoring manufacturer Ajinomoto attained a record share price here Tuesday, as investors expressed a huge appetite for the company's semiconductor material business.

Ajinomoto gained 0.9% on the previous day to hit an intraday high of 4,357 yen ($31.46) before closing at 4,323 yen. The high beat the company's previous record of 4,350 yen, logged in March 1987.